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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
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Monday, 31 January 22
HOW INDONESIA'S COAL EXPORT BAN COULD IMPACT INDIA - IEEFA
What does it mean for power generation and energy security?
Not long ago, India faced coal shortages due to a decline in domestic co ...
Sunday, 30 January 22
AIR PRODUCTS' COAL GASIFICATION PROPOSAL TRIGGERS LOOMING POLICY DISPUTES IN INDONESIA - IEEFA
Plan to substitute Indonesia’s LPG imports with dimethyl ether may be hard to realize due to conflicting business interests
In ...
Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
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